Bangladesh Bank eases forex regulations

Bangladesh Bank has eased forex regulations by allowing all banks to issue international credit, debit and pre-paid cards to foreign currency users. This would help in providing more facilities to exporters, travelers and foreign investors. The amended policy would enable any government official, bank official, and financial organisations and faculty member of a recognised banking training institute to send a registration fee without approval of Bangladesh Bank, for participating in any training, seminar or workshop abroad through approved dealers. Also the amendment to 1996 "Guidelines for Foreign Exchange Transaction (GFET)" made the requirement of Bank "Encashment Certificate" mandatory, against the money sent for registration with the Registrar of Joint Stock Companies (RJSC) in Bangladesh, for the proposed company. The circular also stated that the Bangladeshi students pursuing professional diploma/certificate courses abroad could now be sent foreign currency.